Automotive Brake Shims Market Analysis and Forecast to 2031: By Material Type (Rubber Coated, PSA Material, Thermoset Material, Others), Application (Two-Wheeler, Passenger Vehicle, Commercial Vehicle), and Region
The global automotive brake shims market was valued at US$ 0.5 billion in 2021 and it is anticipated to grow up to US$ 0.8 billion by 2031, at a CAGR of 3.7% during the forecast period.
Automotive brake shims are used in the disc brakes system to control the excessive noise generated by the disc to stop the movement of the wheel hub. Automotive brake shims are used in all vehicles, including two-wheelers, cars, and commercial vehicles. An automotive disc brake can be installed front, rear, or both sides in wheel hubs. Automotive brake shims are designed to provide a multifunction noise control system and act as a component attached to the friction pad backing plate. Nowadays, manufacturers are focusing on high-quality brake shims made up of advanced technological materials or various grades of metals, such as viscoelastic polymers/bonding materials, elastomeric rubbers, and fiberglass.
Global Automotive Brake Shims Market Scope and Report Structure
| Report Attribute | Details |
|---|---|
| Market Size in 2021 | US$ 0.5 Billion |
| Market Size in 2031 | US$ 0.8 Billion |
| CAGR % | 3.7% |
| Historic Period | 2015-2020 |
| Forecast Period | 2022-2031 |
| Base Year | 2021 |
| Segments Covered | Material Type, Application, and Region |
| Key Companies | Avery Dennison Corporation (US), Brake Performance (US), Brembo S.p.A. (Italy), Delphi Technologies (UK), Meneta (Denmark), Nucap Industries Inc. (Canada), Robert Bosch LLC (Germany), Super Circle Auto Limited (India), TMD Friction Services GmbH (Germany), and Trelleborg AB (Sweden) |
| Regional Scope | North America, Europe, Asia Pacific, Central & South America, Middle East & Africa |
| Analysis Coverage | Market Forecast, Competitive Landscape, Drivers, Trends, Restraints, Opportunities, Value-Chain, PESTLE, Key Events and Developments |
Market Drivers and Trends
The trend of urbanization is growing rapidly, increasing the average disposable income of the urban population and allowing people to enhance their lifestyles. The transformed lifestyles further boost the demand for passenger cars, thus, propelling the manufacturers to uplift their production to fulfill customers’ requirements. Production of vehicles, including passenger cars and commercial vehicles, registered steady growth in developed and developing economies in the post-recession era since 2010. Lowered interest rates on loans have also favored the growth of the automobile industry.
In the past few years, consumer behavior toward intercity and intracity transit has changed. With an increase in the disposable income of individuals and the stable economic structure of countries, the production of vehicles has been boosted exponentially. With the rising demand for cars globally, car production has increased, creating the requirement for automotive brake shims, thereby increasing the growth in the global automotive brake shims market.
Market Restraints and Challenges
The high initial and installation cost of automotive disc brake systems in automobiles can act as a restraint for the sales of the automotive brake shims market. Moreover, rising prices of vehicles, along with high cost incurred in design and testing, is also estimated to hamper the global automotive brake shims market growth.
Global Automotive Brake Shims Market Segmental Overview
The report analyses the global automotive brake shims market based on material type, application, and region.
Global Automotive Brake Shims Market by Material Type
Based on material type, it is segmented into rubber coated, PSA material, thermoset material, and others. The others segment is expected to be the largest segment in the automotive brake shims market in 2021. High-quality brake shims usually start with a high-quality metal or fibrous material. The shim manufacturer will select a grade of material with the right hardness, thickness, and dampening properties. The elastomeric materials categorized in others segment can be applied to the steel in a controlled process that ensures the correct depth. These materials are then vulcanized to the metal to ensure that they will endure the harsh environment of the braking system. Due to these factors mentioned above, the others segment is expected to hold a major market share in 2021.
Global Automotive Brake Shims Market by Application
Based on application, it is segmented into two-wheeler, passenger vehicle, and commercial vehicle. The passenger vehicle segment is expected to be the largest segment in the automotive brake shims market in 2021. The growing demand of automotive brake shims in passenger cars segment can be primarily attributed to the increased sales of these vehicles when compared to two-wheeler and commercial vehicle are boosting the growth of the market. Thus, the passenger vehicle segment will likely hold a major market share in 2021.
Geographical Analysis of Global Automotive Brake Shims Market
Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. The Asia Pacific market is expected to hold the majority of the market share in 2021 owing to increasing disposable income of the middle class population with high living standard as well as increasing number of premium segments vehicle sales. This, in turn, boosts the demand for automotive brake shims in the Asia Pacific region.
Major Players in the Global Automotive Brake Shims Market
The key players studied in the global automotive brake shims market are Avery Dennison Corporation (US), Brake Performance (US), Brembo S.p.A. (Italy), Delphi Technologies (UK), Meneta (Denmark), Nucap Industries Inc. (Canada), Robert Bosch LLC (Germany), Super Circle Auto Limited (India), TMD Friction Services GmbH (Germany), and Trelleborg AB (Sweden).
COVID-19 Impact
In 2020, the COVID-19 pandemic forced governments across the globe to implement stringent lockdown and ban the import-export of essential raw material items for most of 2020 and a few months in 2021. This led to a sudden decline in the availability of important raw materials for vehicle components. As a result of interrupted supply chains and production schedules caused by the COVID-19 pandemic, aviation production, and sales suffered severely, which, in turn, negatively impacted the market for automotive brake shims market in 2020.
However, in 2021 and 2022, the production of automobiles increases globally. Similarly, the manufacturing of automotive brake shims rises as per increased vehicle demand. Both these factors have led to positive market growth.
Recent Developments
- June 2022, Meneta Group had demonstrated its engineering excellence and innovative capacity. At the end of Q1 2022, Meneta finalized the development of a new adhesive named H1. It is the first high-temperature damping acrylic adhesive on the market.
- February 2020, Bosch launched new parts, including brake pads for selected vehicles. Bosch launched three new brake pad stock-keeping units added to the Bosch QuietCast brake pad product line. The new parts include synthetic lubricant and a hardware kit for specific applications. The brake pads feature multilayer shims for superior noise dampening, providing added protection to the braking system.
Frequently Asked Questions
Q1. How big is the automotive brake shims market?
Ans. The global automotive brake shims market size was US$ 0.5 billion in 2021 and is anticipated to reach US$ 0.8 billion in 2031, growing at a rate of 3.7% from 2022 to 2031.
Q2. What is the automotive brake shims market growth rate?
Ans. The growth rate of the automotive brake shims market is 3.7% from 2022 to 2031.
Q3. Which region holds a major market share for the automotive brake shims market?
Ans. Asia Pacific holds a major market share of the automotive brake shims market in 2021.
Q4. Which segment accounted for the largest automotive brake shims market share?
Ans. Based on application, it is segmented into two-wheeler, passenger vehicle, and commercial vehicle. The passenger vehicle segment is expected to be the largest segment in the automotive brake shims market in 2021.
Q5. Who are the key players in the automotive brake shims market?
Ans. The global automotive brake shims market report includes players such as Avery Dennison Corporation (US), Brake Performance (US), Brembo S.p.A. (Italy), Delphi Technologies (UK), Meneta (Denmark), Nucap Industries Inc. (Canada), Robert Bosch LLC (Germany), Super Circle Auto Limited (India), TMD Friction Services GmbH (Germany), and Trelleborg AB (Sweden).
Q6. What are the factors driving the automotive brake shims market growth?
Ans. The major factor driving the growth of the market is the surge in production of automotive vehicles.
Q7. What are the key growth strategies of automotive brake shims market players?
Ans. The key growth strategies of automotive brake shims market players are product launch, partnerships, and government initiatives.
Q8. Which region will provide more business opportunities for the automotive brake shims market during the forecast period?
Ans. The Asia Pacific region will provide more business opportunities for the automotive brake shims market during the forecast period.
Table of Contents
Chapter 1. Market Introduction
1.1. Objectives of the study
1.2. Market definition and research & scope
1.3. Research methodologies
1.4. Market estimation techniques
Chapter 2. Executive Summary
2.1. Summary
2.2. Key highlights of the market
Chapter 3. Automotive Brake Shims Market Outlook
3.1. Automotive brake shims market segmentation
3.2. Market dynamics
3.2.1. Market drivers
3.2.1.1. Driver 1
3.2.1.2. Driver 2
3.2.1.3. Driver 3
3.2.2. Market restraints
3.2.2.1. Restraint 1
3.2.2.2. Restraint 2
3.2.3. Market opportunities
3.2.3.1. Opportunity 1
3.2.3.2. Opportunity 2
3.3. Porter’s five forces analysis
3.3.1. Threat of new entrants
3.3.2. Threat of substitutes
3.3.3. Bargaining power of buyers
3.3.4. Bargaining power of supplier
3.3.5. Competitive rivalry
3.4. PESTLE analysis
3.5. Value chain analysis
3.5.1. Raw material suppliers
3.5.2. Manufacturers
3.5.3. Wholesalers and/or retailers
3.6. Impact of the Russia and Ukraine war on the global automotive brake shims market
Chapter 4. The Economic Impact of COVID-19
4.1. Overall impact of COVID-19
4.2. Impact of COVID-19 on the global automotive brake shims market
4.3. Economic impact analysis
Chapter 5. Automotive Brake Shims Market, by Material Type
5.1. Market overview
5.2. Rubber Coated
5.2.1. Market size and forecast, 2021-2031 (US$ million)
5.2.2. Market size and forecast, by region, 2021-2031 (US$ million)
5.3. PSA Material
5.3.1. Market size and forecast, 2021-2031 (US$ million)
5.3.2. Market size and forecast, by region, 2021-2031 (US$ million)
5.4. Thermoset Material
5.4.1. Market size and forecast, 2021-2031 (US$ million)
5.4.2. Market size and forecast, by region, 2021-2031 (US$ million)
5.5. Others
5.5.1. Market size and forecast, 2021-2031 (US$ million)
5.5.2. Market size and forecast, by region, 2021-2031 (US$ million)
Chapter 6. Automotive Brake Shims Market, by Application
6.1. Market overview
6.2. Two-Wheeler
6.2.1. Market size and forecast, 2021-2031 (US$ million)
6.2.2. Market size and forecast, by region, 2021-2031 (US$ million)
6.3. Passenger Vehicle
6.3.1. Market size and forecast, 2021-2031 (US$ million)
6.3.2. Market size and forecast, by region, 2021-2031 (US$ million)
6.4. Commercial Vehicle
6.4.1. Market size and forecast, 2021-2031 (US$ million)
6.4.2. Market size and forecast, by region, 2021-2031 (US$ million)
Chapter 7. Global Automotive Brake Shims Market, by Region
7.1. Overview
7.2. North America
7.2.1. Key market trends and opportunities
7.2.2. North America Automotive brake shims market size and forecast by Material Type, 2021-2031, (US$ million)
7.2.3. North America Automotive brake shims market size and forecast by Application, 2021-2031, (US$ million)
7.2.4. North America Automotive brake shims market size and forecast by Country, 2021-2031, (US$ million)
7.2.5. The U.S.
7.2.5.1. The U.S. Automotive brake shims market size and forecast by Material Type, 2021-2031, (US$ million)
7.2.5.2. The U.S. Automotive brake shims market size and forecast by Application, 2021-2031, (US$ million)
7.2.6. Canada
7.2.6.1. Canada Automotive brake shims market size and forecast by Material Type, 2021-2031, (US$ million)
7.2.6.2. Canada Automotive brake shims market size and forecast by Application, 2021-2031, (US$ million)
7.2.7. Mexico
7.2.7.1. Mexico Automotive brake shims market size and forecast by Material Type, 2021-2031, (US$ million)
7.2.7.2. Mexico Automotive brake shims market size and forecast by Application Material Type, 2021-2031, (US$ million)
7.3. Europe
7.3.1. Key market trends and opportunities
7.3.2. Europe Automotive brake shims market size and forecast by Material Type, 2021-2031, (US$ million)
7.3.3. Europe Automotive brake shims market size and forecast by Application, 2021-2031, (US$ million)
7.3.4. Europe Automotive brake shims market size and forecast by Country, 2021-2031, (US$ million)
7.3.5. Germany
7.3.5.1. Germany Automotive brake shims market size and forecast by Material Type, 2021-2031, (US$ million)
7.3.5.2. Germany Automotive brake shims market size and forecast by Application, 2021-2031, (US$ million)
7.3.6. France
7.3.6.1. France Automotive brake shims market size and forecast by Material Type, 2021-2031, (US$ million)
7.3.6.2. France Automotive brake shims market size and forecast by Application, 2021-2031, (US$ million)
7.3.7. U.K.
7.3.7.1. U.K. Automotive brake shims market size and forecast by Material Type, 2021-2031, (US$ million)
7.3.7.2. U.K. Automotive brake shims market size and forecast by Application, 2021-2031, (US$ million)
7.3.8. Spain
7.3.8.1. Spain Automotive brake shims market size and forecast by Material Type, 2021-2031, (US$ million)
7.3.8.2. Spain Automotive brake shims market size and forecast by Application, 2021-2031, (US$ million)
7.3.9. Italy
7.3.9.1. Italy Automotive brake shims market size and forecast by Material Type, 2021-2031, (US$ million)
7.3.9.2. Italy Automotive brake shims market size and forecast by Application, 2021-2031, (US$ million)
7.3.10. Russia
7.3.10.1. Russia Automotive brake shims market size and forecast by Material Type, 2021-2031, (US$ million)
7.3.10.2. Russia Automotive brake shims market size and forecast by Application, 2021-2031, (US$ million)
7.3.11. Rest of Europe
7.3.11.1. Rest of Europe Automotive brake shims market size and forecast by Material Type, 2021-2031, (US$ million)
7.3.11.2. Rest of Europe Automotive brake shims market size and forecast by Application, 2021-2031, (US$ million)
7.4. Asia Pacific
7.4.1. Key market trends and opportunities
7.4.2. Asia Pacific Automotive brake shims market size and forecast by Material Type, 2021-2031, (US$ million)
7.4.3. Asia Pacific Automotive brake shims market size and forecast by Application, 2021-2031, (US$ million)
7.4.4. Asia Pacific Automotive brake shims market size and forecast by Country, 2021-2031, (US$ million)
7.4.5. China
7.4.5.1. China Automotive brake shims market size and forecast by Material Type, 2021-2031, (US$ million)
7.4.5.2. China Automotive brake shims market size and forecast by Application, 2021-2031, (US$ million)
7.4.6. India
7.4.6.1. India Automotive brake shims market size and forecast by Material Type, 2021-2031, (US$ million)
7.4.6.2. India Automotive brake shims market size and forecast by Application, 2021-2031, (US$ million)
7.4.7. Japan
7.4.7.1. Japan Automotive brake shims market size and forecast by Material Type, 2021-2031, (US$ million)
7.4.7.2. Japan Automotive brake shims market size and forecast by Application, 2021-2031, (US$ million)
7.4.8. South Korea
7.4.8.1. South Korea Automotive brake shims market size and forecast by Material Type, 2021-2031, (US$ million)
7.4.8.2. South Korea Automotive brake shims market size and forecast by Application, 2021-2031, (US$ million)
7.4.9. Rest of APAC
7.4.9.1. Rest of APAC Automotive brake shims market size and forecast by Material Type, 2021-2031, (US$ million)
7.4.9.2. Rest of APAC Automotive brake shims market size and forecast by Application, 2021-2031, (US$ million)
7.5. Rest of the World
7.5.1. Key market trends and opportunities
7.5.2. Rest of the World Automotive brake shims market size and forecast by Material Type, 2021-2031, (US$ million)
7.5.3. Rest of the World Automotive brake shims market size and forecast by Application, 2021-2031, (US$ million)
7.5.4. Rest of the World Automotive brake shims market size and forecast by Country, 2021-2031, (US$ million)
7.5.5. Latin America
7.5.5.1. Latin America Automotive brake shims market size and forecast by Material Type, 2021-2031, (US$ million)
7.5.5.2. Latin America Automotive brake shims market size and forecast by Application, 2021-2031, (US$ million)
7.5.6. Middle East
7.5.6.1. Middle East Automotive brake shims market size and forecast by Material Type, 2021-2031, (US$ million)
7.5.6.2. Middle East Automotive brake shims market size and forecast by Application, 2021-2031, (US$ million)
7.5.7. Africa
7.5.7.1. Africa Automotive brake shims market size and forecast by Material Type, 2021-2031, (US$ million)
7.5.7.2. Africa Automotive brake shims market size and forecast by Application, 2021-2031, (US$ million)
Chapter 8. Competitive Landscape
8.1. Market overview
8.2. Market share analysis/key player positioning
8.3. Developmental strategy benchmarking
8.3.1. New product development
8.3.2. Product launches
8.3.3. Business expansions
8.3.4. Partnerships, joint ventures, and collaborations
8.3.5. Mergers and acquisitions
Chapter 9. Company Profiles
9.1. Avery Dennison Corporation (US)
9.1.1. Company snapshot
9.1.2. Financial performance
9.1.3. Product offerings
9.1.4. Key strategic initiatives
9.1.5. SWOT analysis
9.2. Brake Performance (US)
9.2.1. Company snapshot
9.2.2. Financial performance
9.2.3. Product offerings
9.2.4. Key strategic initiatives
9.2.5. SWOT analysis
9.3. Brembo S.p.A. (Italy)
9.3.1. Company snapshot
9.3.2. Financial performance
9.3.3. Product offerings
9.3.4. Key strategic initiatives
9.3.5. SWOT analysis
9.4. Delphi Technologies (UK)
9.4.1. Company snapshot
9.4.2. Financial performance
9.4.3. Product offerings
9.4.4. Key strategic initiatives
9.4.5. SWOT analysis
9.5. Meneta (Denmark)
9.5.1. Company snapshot
9.5.2. Financial performance
9.5.3. Product offerings
9.5.4. Key strategic initiatives
9.5.5. SWOT analysis
9.6. Nucap Industries Inc. (Canada)
9.6.1. Company snapshot
9.6.2. Financial performance
9.6.3. Product offerings
9.6.4. Key strategic initiatives
9.6.5. SWOT analysis
9.7. Robert Bosch LLC (Germany)
9.7.1. Company snapshot
9.7.2. Financial performance
9.7.3. Product offerings
9.7.4. Key strategic initiatives
9.7.5. SWOT analysis
9.8. Super Circle Auto Limited (India)
9.8.1. Company snapshot
9.8.2. Financial performance
9.8.3. Product offerings
9.8.4. Key strategic initiatives
9.8.5. SWOT analysis
9.9. TMD Friction Services GmbH (Germany)
9.9.1. Company snapshot
9.9.2. Financial performance
9.9.3. Product offerings
9.9.4. Key strategic initiatives
9.9.5. SWOT analysis
9.10. Trelleborg AB (Sweden)
9.10.1. Company snapshot
9.10.2. Financial performance
9.10.3. Product offerings
9.10.4. Key strategic initiatives
9.10.5. SWOT analysis
*the list of company is subject to change during the final compilation of the report
Key Players
Global Automotive Brake Shims Market Segmentation
By Material Type
- Rubber Coated
- PSA Material
- Thermoset Material
- Others
By Application
- Two-Wheeler
- Passenger Vehicle
- Commercial Vehicle
By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Spain
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Latin America
- Middle East
- Africa